Mr. Bernstein Class Outline September 2017 AP Economics Mr. Bernstein Class Outline September 2017

AP Economics Mr. Bernstein Overview This is a course in theory and the economic way of thinking more than application-based course First AP Econ course was offered in 1989. 2,583 students took the Micro test and 3,198 took the Macro test. In 2017, 41,321 students took the Micro test and 68,464 took the Macro test Over 4,000 high schools offer AP Micro and over 4,900 offer AP Macro (vs 14,000 offering AP Calc and 13,000 offering AP US History)

AP Economics Mr. Bernstein Overview Average AP scores: 80-100 A 65-80 B 50-65 C 40-50 D 2017 national mean scores were 3.00 and 3.19

AP Economics Mr. Bernstein Course Goals Explain Microeconomic principles such as supply and demand, laborers and wages, and market structures Explain Macroeconomic principles such as unemployment, inflation, economic measurements, and the role of government in the economy Understand how decisions by individuals and government affect the economy Analyze economic models and draw conclusions from them Attain the necessary knowledge and skills to successfully take the AP Economics Exam

AP Economics Mr. Bernstein 1. Course Outline Marking Periods 1-2: Microeconomics Unit 1: Basic Economic Concepts (2 quizzes) Unit 2: Supply and Demand Unit 3: Behind the Demand Curve: Consumer Choice Unit 4: Behind the Supply Curve: Profit, Production & Costs Unit 5: Market Structures: Perfect Competition & Monopoly Unit 6: Market Structures: Imperfect Competition Unit 7: Factor Markets Unit 8: Market Failure and the Role of Government

AP Economics Mr. Bernstein 1. Course Outline, cont. Marking Periods 3-4: Macroeconomics Unit 1: Measurement of Economic Performance Unit 2: National Income and Price Determination Unit 3: Inflation, Unemployment and Stabilization Policies Unit 4: The Financial Sector Unit 5: Economic Growth and Productivity Unit 6: The Open Economy: International Trade and Finance

AP Economics Mr. Bernstein 2. Resources Textbook: Krugman’s Economics for AP, 2011, Ray and Anderson Reffonomics.com and Grokkingecon.com Council for Economic Education AP Economics Activities Previously released AP Economics test questions others

AP Economics Mr. Bernstein 3. Classroom Routine Daily Structure Behavior Electronic Devices Academic Integrity 4. Grading 50% Quizzes/ 25% Homework / 25% Class Participation Quarterly Exams as per school policy Quiz corrections, Extra Credit may be offered MP4 may have only one quiz plus AP Exam prep activities 5. Makeup Policy Tests and Quizzes must be made up following day Plan ahead

AP Economics Mr. Bernstein 6. EI (Extra Instruction) A. Before or After school – arrange with me B. Extra effort will be considered 7. Additional Opportunities A. Investment Club B. DECA C. Business Academy

AP Economics Mr. Bernstein 8. The AP Exams Each test is 2 hours and 10 minutes Test dates are Wed. May 16, 12 noon (Macro) and Fri. May 18, 8 am (Micro) 60 multiple choice questions (70 minutes) 3 Free Response questions, 1 long and 2 short (10 minute reading time plus 50 minutes to answer) MC = 2/3 of grade FRQ = 1/3 of grade Average FRQ score is <50%

AP Economics Mr. Bernstein 9. Fire Drill Procedure

AP Economics Mr. Bernstein 10. Evacuation Procedure